CHANGES TO ADDITIONAL BUYER'S STAMP DUTY Additional Buyer's Stamp Duty (ABSD) Rates before Apr 27, 2023 Rates on or after Apr 27, 2023 Singapore citizens First residential property 0% 0% Second residential property 17% 20% Third and subsequent residential property 25% 30% First residential property 5% 5% Permanent residents Second residential property 25% 30% Foreigners Entities/ Trustees ird and subseque sidential proper 30% 35% 30% 60% Any residential property 35% 65% Housing developers 35%^ + 5%^^ 35%^ + 5%^^ *Housing developers may apply for remission of this ABSD, subject to conditions ^^ This 5% will not be remitted and is to be paid upfront upon purchase of residential property Source: Ministry of Finance, Ministry of National Development and Monetary Authority of Singapore
If you really wanted to do something about housing affordability
Your government would institute a Singapore style stamp tax
Zero tax on the first home of a citizen
20% on the second home 30% on the third
Foreigners 60%
Corporations or entities 65%
#HomesForWhom?
Homes for locals living.